Technology will marry business interests at the first World Nano-Economic Congress India.
The dwarf (Greek for 'nano') decides to become Goliath. Despite 'nano' being only one billionth of a metre in length, nanotechnology is finding its way into a myriad of industrial applications -- most of which, however, are struggling to get past the laboratory stage.
India now understands the potential of nanotechnology, and sensing a business opportunity, domestic player YashNanotech, a part of the listed company Yash Management, and the UK-based Cientifica, a leading nanotech research and advisory firm, have joined hands to bring the World Nano-Economic Congress to India.
"Nanotechnology is a global phenomenon, but the methods of making money from it vary widely," says a Cientifica spokesperson.
The WNEC series of events, which also explores how to commercialise nanotechnology developments, has been held in every major region of the world since 2003 -- starting in Washington with successive events in London, Munich, Singapore, and Dublin (Ireland).
The WNEC India will represent the seventh event in this international series of conferences.
The next in the series will be held in Singapore in 2006.
Cientifica estimates that governments and companies across these regions will ramp up their annual investments in nanotechnology to over $4 billion a year by 2010.
"YashNanotech has a technical, consulting and marketing collaboration with Cientifica. Nanotechnology is a hot topic today. With the rest of the subcontinent reaping the benefits of globalisation, this is a unique opportunity to take stock of Indian technologies, make contact with India's largest companies, and access the world's fastest-growing consumer market," says Paramjyothi Chowti, chief operating officer, YashNanotech.
Companies like Samsung have already entered the Indian market with a range of products using nanotechnology such as refrigerator, washing machine and air-cooler. Samsung uses nano-silver in various compositions in its product range.
Further, companies like Tata Steel, Tata Chemicals, Mahindra & Mahindra, Nicholas Piramal and Intel are also looking very closely at nanotechnology and have invested around $250 million in the domestic market towards this end.
"Nanotechnology is going to creep into every industry very soon and take over the whole market. The WNEC India will showcase nanotechnology developments in India and will also try to enhance growth of nanotechnology commercialisation through this Congress," she adds.
At the Indian edition of the WNEC, speakers from around the globe will explain and illustrate how stronger and larger a role nanotechnology is playing in business strategy and, consequently, in profitability the world over.
Speakers at the past WNEC events include the likes of Shimon Peres, former Israeli prime minister and a Nobel laureate for peace; Richard E Smalley, Nobel laureate for co-discovery of the Buckyball; and Rodney Slater, former secretary of transportation in the erstwhile Clinton administration.
Over the next six months, YashNanotech is also planning to set up a 'contact research centre', which can be likened to a nanotechnology BPO, at an estimated cost around Rs 3-4 crore.
"We will work on research ideas from all over the world in India. Towards this end, we will be recruiting researchers from India and elsewhere (since the labour is comparatively cheaper)," says Chowti.
YashNanotech has inked agreements with IIT Mumbai, NCL Pune and the Jawaharlal Nehru Centre of Advanced Research, Bangalore, to undertake global contract research and set up nanotech manufacturing facilities.
One may recall the statement of one of the country's most eminent scientists, C N R Rao: "India cannot afford to miss the revolution in nanotechnology. We should not be at the receiving end when the world is driven by nanotechnology."
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